While the top coins showed promising revival signs, Dogecoin depicted a sluggish acceleration. Its near-term technicals flashed mixed signs. Besides, Litecoin and CAKE noted gains on their daily charts after bouncing back from their multi-week support points.
Litecoin flashed bullish technicals, whereas CAKE exhibited a near-term bearish inclination.
Dogecoin (DOGE)
DOGE finally managed to break out of the descending channel (yellow) and formed an up-channel (white) over the past week.
After an exceptional month-long rally to its 11-week milestone until 28 October, DOGE persistently declined for the past month. Then, it lost over 44% of its value and poked its four-month low on 26 November post a descending triangle (white) break out.
DOGE bulls found strong support at the $0.197- mark for over four months. Consequently, the price action witnessed a slight revival.
However, at press time, DOGE traded below its 20-SMA at $0.2096. It registered a 1.55% 24-hour loss. The RSI failed to stay above the midline while flashing neutral signs. Besides, the DMI showed a bullish preference but displayed a weak directional trend.
Litecoin (LTC)
Source: TradingView, LTC/USDT
Correlating with top cryptos, LTC consistently fell in a descending channel after touching its 25-week milestone on 10 November. Since then, the altcoin declined by over 38% to touch its one-month low on 28 November.
The bulls ultimately managed to trigger a down-channel breakout as the price revived in an ascending channel over the past week. With this ascent, the price action visibly obliged the seven-week-long support at the $181-mark.
At press time, LTC traded at $207.3 after noting a 2% 24-hour gain. The RSI swayed above the midline, depicting a bullish preference. Also, the DMI lines were on the verge of a bullish crossover. But the ADX displayed a substantially weak directional trend.
PancakeSwap (CAKE)
Source: TradingView, CAKE/USDT
The alt has been on a consistent downtrend since 26 August. After moving sideways during October, the price action bounced between the two parallel lines heading south. After losing over 41% of its value (from 7 November high), the price touched its four-month low on 26 November.
However, bulls ensured 18-week-long support at the $12.14-mark. Accordingly, price breached broke out of the down-channel, but the bulls failed to sustain the upswing above the immediate resistance at the $13.95-mark.
At press time, CAKE traded at $13.19 after noting a 0.9% 24-hour gain. The RSI was weak after breaching the midline and stood at the 42-mark. Further, DMI reaffirmed the inclination towards the bears. Nevertheless, MACD depicted the bullish revival attempt.
Ecosystem
Research
News Network
About